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It’s time for law firms to reconsider their basic operating model. The long-standing assumption of large and mid-size law firms has been that recruiting the top academic graduates from prestigious law schools is the way to build the strongest firms. Similarly, use of an up-or-out partnership model, which has served firms well for a…
The greying of Accounting & Advisory firms has arrived, and it’s leaving a large leadership shortfall. On a national level, the number of CPA partners over the age of 50 rose to 64% in 2015, bringing these firms to a tipping point. Older partners are working later into their careers, and younger partners are working…
In working on strategic planning for accounting & advisory firms, a key issue is always: moving forward, in which client industries should the firm invest? A quick glance at firms’ websites reveals that most firms are already largely organized by industry — sometimes exclusively. However, these organizational alignments were developed based on firms’ historical…
In many organizations, expectations have moved from “get it done soon” to “get it done now”. This type of environment can cause people to stop asking questions and move right to decision or action. Many times these decisions or actions lead to poor results. And, if questions are asked, many times they are the wrong…
Because of their unique characteristics, nonprofits can require some added leadership development focus before new strategic plans are developed. Often, these organizations are founded by passionate individuals who, over time, may not make the best strategic leaders of their organizations. Or, organizations may bring in “rock star” leaders who can command attention and raise money…
It starts by understanding that there are different kinds of confidence. There is the capital “C” confidence that comes from one’s self-esteem. You know the type, the individuals who are so assured of their ability to be successful that they comfortably admit when they don’t have the answer. And there is another kind of…
Strategic planning is especially important in the nonprofit world. These organizations have similar risks and opportunities as commercial businesses, but they often don’t have the competitive market to keep them “honest”. Or, put a little better, by the time they realize they are in trouble, it is often too late. A few years ago, we…
In our strategy work with regional accounting and advisory firms, one of the thorniest issues is how to migrate the firm’s partners to service line specialties. To partners who have been doing both audit and tax work for their entire careers, the thought of changing now as part of a strategic planning process can be…
Personal competencies are the foundation of a leader’s effectiveness, yet many executives have shaky foundations that challenge their ability to be effective. They can’t easily inspire others. They have difficulty communicating their vision and they lack self-confidence. Most important, they aren’t self-aware of these flaws, despite which they continue to rise to upper echelons of…
Many of us remember the “Miracle on the Hudson,” when U.S. Airways Captain Chesley “Sulley” Sullenberger III safely landed a commercial airliner on the Hudson River. In his recent Forbes article http://onforb.es/1SlzcrJ Sulley shares his belief that it takes more then technical skills and abilities to be a successful leader. He states that “you also…